As the cryptocurrency market continues its upward momentum, exchange tokens are starting to stand out.
Exchange tokens, which were among the stars of the last bull market, have once again begun to attract the attention of investors. The local token of the world’s largest cryptocurrency exchange Binance, BNB Coin (BNB), experienced a 40% rise in the past week.
The value of the popular cryptocurrency exchange OKX’s local token, OKB, also increased by 27% in the last week, and there was also an increase in interest in decentralized exchange (DEX) tokens.
Binance-backed Pancakeswap (CAKE) gained momentum with the version 4 announcement and saw a 45% increase in value in the last week. The local token of one of the largest decentralized exchanges, Uniswap (UNI), showed a 120% rise over a 1-month period.
The Solana (SOL)-based decentralized exchange Jupiter (JUP) experienced a 41% increase in the last week. In particular, it is expected that there will be an increase in interest in Ethereum-based decentralized exchanges following the completion of the Ethereum London upgrade.
Experts are of the view that investors looking to use layer 2 (L2) solutions will increase their transactions in relation to Ethereum-based DEXs, and this capital flow will accelerate the rise of exchange tokens.
